It must be a quiet day when the yen reacts to ex-BOJ board members
Should refrain from further easing including at July meeting as borrowing costs are already very low
Next step should be to taper asset buying accompanied by deepening of negative interest rates
BOJ should tweek commitment to inflation target and initially target 1.0% inflation then 2.0%
Estimates show many firms are comfortable with USDJPY levels around 100-110
Yen rises could be problematic but should be addressed via FX intervention and not mon pol
Reuters grabbing an interview with former board member Sayuri Shirai. USDJPY has lost around 15 pips
